Tower Semiconductor (TSEM) Reports In-Line Q1 EPS, Revenues Beat; Offers 2Q Revenues Guidance Above Consensus
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Tower Semiconductor Reports First Quarter 2021 Double Digit Year over Year Revenue Growth
May 12, 2021 7:00 AM EDTMIGDAL HAEMEK, Israel, May 12, 2021 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the first quarter ended March 31, 2021.
First Quarter of 2021 Highlights
Revenues of $347 million, reflecting year over year 21% organic growth and 16% total growth.Significant year over year increases in gross profit, operating profit and net profit.Guides mid-range revenue for the second quarter of 2021 of $360 million, which represents a company record quarterly revenue, demonstrating 26% year over year organic growth and 16% total growth.Standard & Poors... More